AGP Executive Report

Seychelles-India Trade & Diplomacy: Seychelles marked its 50th Independence anniversary with major receptions in New Delhi, spotlighting decades of cooperation with India and people-to-people ties. Tourism Industry Leadership: Alain St. Ange is set to deliver a keynote at Clevenard Open Project 2026, focusing on what tourism leaves behind for host communities and how to grow while protecting culture and the environment. Fintech & Enterprise Software: Seychelles-based Fusepay launched Fuse360, an AI-native operating and financial system for wholesalers, distributors and manufacturers, with FusePay payments integrated; the rollout includes Mauritius next. Housing Delivery: NBCC (India) formalised a $75m affordable housing contract with the Government of Seychelles for 1,008 units at Île Aurore, moving from letter of intent to full agreement. Ocean & Marine Protection: A new global study warns drifting fish aggregating devices affect more than half of the world’s protected marine areas, calling for tighter limits and better retrieval responsibility. Shipping & Economic Pressure: Seychelles’ foreign affairs minister warned that Middle East conflict disruptions are hitting tourism arrivals and raising shipping and fuel costs, urging stronger regional connectivity. Agriculture & Value Chains: Seychelles welcomed international research into a possible Geographical Indication for Seychelles honey, aiming to strengthen producer value and recognition.

Seychelles–India Ties: Seychelles marked its 50th Independence anniversary with major receptions in New Delhi, celebrating five decades of cooperation and people-to-people links with India. Tourism & Trade Pressure: Seychelles’ Foreign Affairs minister warned that the Middle East conflict is hitting tourism arrivals and raising shipping and fuel costs, urging faster regional shipping links and use of the Multi-dimensional Vulnerability Index. AI for Trade in the Indian Ocean: Seychelles fintech Fusepay launched Fuse360, an AI-native operating and financial system for wholesalers, distributors and manufacturers, with payments handled through its licensed FusePay platform and expansion planned to Mauritius next. Ocean & Marine Risks: A study says drifting fish aggregating devices affect more than half of the world’s protected marine areas, while another report flags rising underwater noise from shipping as a growing threat to Western Indian Ocean marine life. Fisheries Agreement: EU and Seychelles renewed a tuna fisheries agreement, keeping focus on sustainable access and ocean governance. Agriculture & Honey: Seychelles’ agriculture department welcomed a researcher exploring a Geographical Indication for Seychelles honey, aiming to strengthen value and future protection for producers.

Seychelles–India Ties: At Seychelles’ 50th Independence celebrations in New Delhi, India’s Minister of State Kirti Vardhan Singh highlighted decades of friendship “built on trust” and people-to-people links, while Seychelles’ High Commissioner Lalatiana Accouche pointed to the archipelago’s rise as a global voice on sustainable development and ocean governance. Tourism & Industry Leadership: Alain St. Ange is set to deliver a keynote at Clevenard Open Project 2026 in Spain, focusing on what tourism leaves behind for host communities—an issue that matters for Seychelles’ visitor economy. Trade & Fintech: Seychelles-based Fusepay launched Fuse360, an AI-native operating and financial OS for wholesalers, distributors and manufacturers, with FusePay handling payments and synchronized workflows; the firm is also planning expansion to Mauritius. Marine & Environment: A global study warns drifting fish aggregating devices affect more than half of the world’s protected marine areas, calling for tighter limits, better tracking and stronger retrieval responsibility. Economic Pressure: Seychelles’ Foreign Affairs Minister Barry Faure told the Executive Council that Middle East conflict disruptions have cut tourism arrivals and raised shipping costs, urging faster regional shipping connectivity and use of the Multi-dimensional Vulnerability Index. Local Business & Growth: NBCC (India) has formalised a $75m affordable housing contract with the Government of Seychelles for 1,008 units at Île Aurore, turning an earlier letter of intent into a full agreement.

Trading Deal: IG Group agreed to buy US prediction markets and fantasy sports operator Underdog for up to about $1.3bn, aiming to more than double US revenue and lift monthly active customers sharply, with completion expected late 2026/early 2027. Island Tourism: Expedia’s 2026 Island Hot List points to fast-growing demand, led by Saint Lucia (+125% search growth) and Porto Santo (+85%), as travellers chase beaches, wellness and outdoor experiences. Seychelles Tourism & Industry: Alain St. Ange will deliver a keynote on tourism’s real community impact at Clevenard Open Project 2026 (Aug 27–30). Marine & Fisheries: A global study finds drifting fish aggregating devices affect more than half of the world’s protected marine areas, urging tighter limits, better tracking and stronger company responsibility. Seychelles Economy & Trade: Seychelles warned of economic pressure from Middle East conflict disruptions, with tourism arrivals down 40% early on and still down 12.5% versus last year, alongside higher shipping costs and fuel surcharges. Local Agribusiness: Seychelles is exploring a Geographical Indication for its honey, with a six-week research mission underway. Fintech (Seychelles): Fusepay launched Fuse360, an AI-native operating and financial OS for wholesalers, distributors and manufacturers, licensed in Seychelles and set to expand to Mauritius next.

Hotel & Tourism: Niva Hotels & Resorts, backed by Versa Hospitality, is positioning itself as a new luxury brand across the Indian Ocean with a growing Seychelles presence, betting on “soul-led” stays and experiences rather than standardised packages. Marine & Fisheries: A new global study in Science Advances says drifting fish aggregating devices (dFADs) affect more than half of the world’s marine protected areas, urging tighter limits, better tracking and stronger responsibility for retrieval. Trade & Payments (Seychelles fintech): Fusepay has launched Fuse360, an AI-native operating and financial system for wholesalers, distributors and manufacturers, built to connect operations and payments in one workflow; it is licensed by the Central Bank of Seychelles and is set to expand to Mauritius next. Seychelles–India ties: Seychelles marked its 50th independence anniversary with major events in New Delhi, highlighting decades of partnership with India and renewed focus on ocean governance and sustainable development. Shipping & cost pressure: Seychelles warned that Middle East conflict disruptions are still hitting tourism arrivals and raising shipping costs and fuel surcharges, pushing the need for diversified trade routes and stronger regional connectivity. Environment & industry: Noise pollution in the Western Indian Ocean is flagged as a growing threat to marine life, adding pressure on ocean-dependent livelihoods.

AI for Trade: Seychelles fintech Fusepay has launched Fuse360, an AI-native operating and financial system for wholesalers, distributors and manufacturers, built to connect inventory, orders, invoicing, credit and collections with FusePay payments—licensed by the Central Bank of Seychelles and set to expand to Mauritius in September. Agriculture & Exports: The Department of Agriculture welcomed a Togo researcher on a six-week mission exploring a Geographical Indication (GI) for Seychelles honey, aiming to strengthen future value and market positioning. Women in Farming: Praslinoise farmer Marie-Michelle Vidot has been elected women representative on the Seychelles Farmers Association executive committee, pushing for stronger support for women farmers. Aerospace Industry Link: India’s HAL says it will prioritise delivering existing Tejas and Prachand orders before aggressive export push—an industry signal for regional manufacturing and supply chains. Marine Environment: A report warns underwater noise from rising shipping is threatening marine life across the Western Indian Ocean, including Seychelles waters. Policy & Resilience: Seychelles’ Foreign Affairs minister Barry Faure warned the Middle East conflict is adding economic pressure via weaker tourism arrivals and higher shipping and fuel costs, urging faster trade route diversification. Sustainable Fisheries: Seychelles and the EU have renewed a tuna fisheries agreement, supporting continued access and industry stability.

AI for Trade Finance: Seychelles fintech Fusepay has launched Fuse360, an AI-native operating and financial system for wholesalers, distributors and manufacturers, with FusePay handling payments inside the same workflow for inventory, orders, invoicing, credit and collections. Marine Environment: Noise pollution is increasingly threatening marine life across the Western Indian Ocean, as rerouted shipping boosts underwater sound that disrupts how whales, dolphins and other species communicate and navigate. Seychelles Housing Deal: NBCC (India) has formalised a $75m affordable housing contract with the Government of Seychelles for 1,008 units at Île Aurore, upgrading an earlier letter of intent into a full agreement. Trade & Connectivity Pressure: Seychelles’ foreign affairs minister warns that Middle East conflict is squeezing tourism and raising shipping and fuel costs, urging faster implementation of the Multi-dimensional Vulnerability Index and more diversified trade routes. Fisheries Cooperation: Seychelles and the EU have renewed a tuna fisheries agreement, supporting continued access and cooperation in the sector. Crypto & Fintech Signals: Bitget added Grvt (GRVT) for spot trading, while local-linked fintech and crypto events keep highlighting Seychelles’ growing role in regional financial innovation.

Investment Migration Watch: Ethiopia has launched the world’s priciest golden visa, with a $10m minimum for a 10-year residence permit, and Henley & Partners data places Seychelles among the costliest African programmes. Local Housing Deal: NBCC (India) has converted its Seychelles affordable housing letter of intent into a full $75m contract for 1,008 units at Île Aurore. Fintech & AI for Trade: Seychelles-headquartered Fusepay launched Fuse360, an AI-native operating system for wholesalers, distributors and manufacturers, with payments and business workflows synced across Fusepay. Shipping & Tourism Pressure: Seychelles’ foreign affairs minister warned that Middle East conflict is hitting tourism arrivals and raising shipping costs, urging diversified routes and stronger regional connectivity. Marine Environment: Noise pollution from rerouted marine cargo traffic is threatening Western Indian Ocean marine life, including species that rely on sound to survive. Regulatory & Markets: VCG Markets says it has secured a Seychelles licence as it expands in emerging markets, while Bitget added Grvt (GRVT) for spot trading. Crypto Industry Events: Zoomex will sponsor Coinfest Asia 2026 in Bali and host a side party. Energy & Infrastructure: A Seychelles-focused housing and energy theme also appears in investor watchlists and corporate updates tied to the island contract.

Marine Environment: Underwater noise linked to rerouted shipping traffic is rising across the Western Indian Ocean, threatening whales, dolphins and other sound-dependent species from Somalia to South Africa, including Seychelles. Economic Resilience: Seychelles’ Foreign Affairs Minister Barry Faure warned the Middle East conflict is squeezing tourism and raising shipping and fuel costs, urging faster rollout of the Multi-dimensional Vulnerability Index and more diversified trade routes. Fisheries & Trade: Seychelles and the EU have renewed a tuna fisheries agreement, while a Sustainable Fisheries Partnership Agreement was signed in Brussels. Coral & Climate Adaptation: A Coral Restoration Project across Mauritius and Seychelles is rebuilding damaged reefs with UN support, putting coastal communities at the centre to strengthen shoreline protection and fisheries. Regulated Finance in Seychelles: VCG Markets says it has secured a Seychelles licence from the FSA as it expands in emerging markets. Crypto Industry Signals: Bitget reported strong BTC/ETH derivatives liquidity in H1 2026, and Zoomex announced it will sponsor Coinfest Asia 2026 in Bali. Food Imports: ISPC Seychelles’ CEO says trade with Russia needs official business missions, citing complex consignment-by-consignment licensing and supplier approval rules.

Sustainable Fisheries: Seychelles and the EU signed a Sustainable Fisheries Partnership Agreement in Brussels, reinforcing tuna-fishing cooperation. Food Trade & Logistics: ISPC Seychelles CEO Alfred Fourcroy says trade with Russia needs stronger government support, citing a complex, consignment-by-consignment licensing system and supplier approval hurdles. Connectivity Boost: Starlink has entered Seychelles under the national regulatory framework, aiming to improve internet access in hard-to-reach areas and support the country’s digital transformation. Tourism & Aviation: Ethiopian Airlines will add double-daily flights from Addis Ababa to Mahé from December 1, 2026, expanding seat capacity and global connections via Star Alliance. Ocean Resilience: A coral reef restoration project across Mauritius and Seychelles, backed by the Adaptation Fund and UNDP, is rebuilding damaged reefs with coastal communities at the centre. Maritime Green Tech: Corsica’s Port of Propriano joined the SEA Index® and extended CO₂ certification coverage to smaller leisure boats, pushing greener yachting standards. Industry Watch: VCG Markets secured a Seychelles licence as it expands in emerging markets, while BitMEX confirmed it will shut down on September 23, 2026.

Fisheries Deal: The EU and Seychelles have renewed a tuna fisheries agreement after officials signed a Sustainable Fisheries Partnership Agreement in Brussels, keeping access and cooperation on track for the islands’ blue-economy stakeholders. Connectivity Boost: Starlink has officially entered Seychelles’ telecom market via a soft launch at State House, with the regulator saying satellite broadband will strengthen access in harder-to-reach areas while operating under local rules. Aviation Links: Ethiopian Airlines will add double-daily flights from Addis Ababa to Mahé from 1 December 2026, a major seat increase for tourism and trade connections through Star Alliance. Food Trade Push: ISPC Seychelles’ CEO says a Russia trade mission is needed to unlock supplier approvals and simplify a complex, consignment-by-consignment licensing process that slows new imports. Crypto & Finance (Local Angle): VCG Markets says it has secured a Seychelles Finance Services Authority licence as it expands in emerging markets, while BitMEX’s Seychelles-based owner prepares for the exchange’s September 23 shutdown. Environment & Industry: A coral restoration project across Mauritius and Seychelles is rebuilding reef ecosystems with coastal communities at the center, aiming to protect fisheries and tourism as bleaching events intensify.

Seychelles Telecoms: Starlink has officially entered Seychelles’ broadband market after a soft launch at State House, with the service becoming operational on July 18 and authorised under the SCRA framework—aimed at boosting reliable internet for remote areas, tourism, maritime businesses, schools and enterprises. Aviation Connectivity: Ethiopian Airlines will add double-daily flights from Addis Ababa to Mahé from December 1, 2026, lifting weekly capacity by more than 1,000 seats and strengthening Seychelles’ global links via Star Alliance. Finance & Regulation: VCG Markets says it has secured a Seychelles licence from the Seychelles Finance Services Authority as it pushes growth across emerging markets. Sustainable Industry: The SEA Index CO₂ certification has expanded beyond superyachts to cover more recreational vessels, including smaller boats and catamarans—relevant to Seychelles’ yachting and marine services sector. Crypto Market Impact: BitMEX, owned by Seychelles-based HDR Global Trading, will shut down on September 23, while a class action alleges customer Bitcoin was seized during liquidations. Local Business/Agri Trade: REA COOP’s citrus juice push is expanding internationally, including sales into Seychelles, despite shipping-route disruptions.

Seychelles Telecom Upgrade: Starlink has officially entered Seychelles’ broadband market after a soft launch at State House, with the Seychelles Communications Regulatory Authority confirming it’s authorised under local rules—aimed at improving connectivity for remote islands, tourism operators, maritime businesses, schools and enterprises. Aviation Connectivity: Ethiopian Airlines will add double-daily flights between Addis Ababa and Mahé from 1 December 2026, boosting seats and strengthening Seychelles’ global links via Star Alliance. Blue Economy & Climate Resilience: A Coral Restoration Project backed by the Adaptation Fund and UNDP is rebuilding damaged reefs across Mauritius, Seychelles and Rodrigues, with coastal communities at the centre to protect shorelines, fisheries and tourism. Seychelles Finance & Crypto Regulation: VCG Markets says it has secured a Seychelles licence from the Seychelles Finance Services Authority as it targets growth in emerging markets, as Seychelles tightens capital and compliance standards. Yachting Emissions Standards: SEA Index® expands CO₂ certification to smaller recreational boats and catamarans (with new models developed with Lloyd’s Register), widening environmental benchmarking for the sector. Tourism Promotion: Discover Airlines brings back a Frankfurt pop-up ice cream parlour (30 July–2 August) featuring destination-inspired flavours including Seychelles, plus flight prize draws. Industry Finance Watch: Bitget touts improved execution for tokenized equity rTokens in a CryptoRank study and adds AEON to Launchpool and spot trading. Maritime Security: Russia urges stronger security efforts in the Gulf of Aden and Mozambique Channel amid piracy and terrorist-linked activity.

Telecom Competition: Starlink has officially entered Seychelles’ broadband market after a soft launch at State House, with the Seychelles Communications Regulatory Authority saying it will operate under local rules and help boost connectivity for remote islands, tourism, maritime users, schools and businesses. Aviation Connectivity: Ethiopian Airlines will add double-daily flights between Addis Ababa and Mahé from 1 December 2026, strengthening Seychelles’ links via the Star Alliance hub network. Blue Economy & Fisheries: The WTO Fish Fund approved about $2.2m in grants for 17 developing and least-developed members to implement the Fisheries Subsidies Agreement, including better reporting, data collection and regulatory frameworks. Ocean Recovery: A Coral Restoration Project across Mauritius, Seychelles and Rodrigues is rebuilding damaged reefs with Adaptation Fund support and UNDP implementation, putting coastal communities at the centre as bleaching and storms continue to hit the region. Sustainable Agriculture: Curieuse Island hosted the Erasmus GreenTraINT Summer School, highlighting international training in sustainable agroforestry and conservation. Energy Reliability: Seychelles’ digital push comes as regional power challenges persist, with rotating load-shedding plans reported elsewhere in the Indian Ocean region. Yachting Emissions: SEA Index® expanded CO₂ certification to smaller recreational boats and catamarans, using new benchmark models developed with Lloyd’s Register. Crypto Industry Watch: BitMEX’s Seychelles-based owner says the exchange will shut down on 23 September 2026, ending an 11-year run after a strategic review.

Connectivity Boost: Starlink has gone live in Seychelles, with the satellite broadband service operational from July 18 after an ISP licence in February, aiming to improve reliability for remote islands, tourism operators, maritime businesses, and schools under SCRA’s regulatory oversight. Aviation Links: Ethiopian Airlines will add double-daily flights between Addis Ababa and Mahé from December 1, 2026, expanding seats and Star Alliance connections for tourism and trade. Maritime Green Credentials: The SEA Index® CO₂ certification has expanded beyond superyachts to cover smaller recreational boats from 10 metres, production vessels and catamarans up to 35 metres, with new benchmark models developed with Lloyd’s Register. Tourism Demand Signals: Expedia’s 2026 Island Hot List highlights rising island travel searches (up 55% year-on-year), with Seychelles featured among top picks for 2026. Crypto Industry Shock: BitMEX, owned by Seychelles-based HDR Global Trading Limited, will shut down permanently on September 23, 2026, ending an 11-year run after a strategic review. Trade & Fisheries Support: The WTO Fish Fund approved $2.2m in grants to help developing members implement the Agreement on Fisheries Subsidies, including needs assessments, reporting upgrades and stronger regulation.

Telecom Shake-up in Seychelles: Starlink has gone live after a soft launch at State House, with the Seychelles Communications Regulatory Authority saying it’s authorised under local rules—aimed at boosting reliable broadband for remote islands, tourism operators, schools and businesses. Aviation Connectivity: Ethiopian Airlines will add double-daily flights from Addis Ababa to Mahé from 1 December 2026, adding 1,000+ weekly seats and strengthening Star Alliance links. Marine Sustainability: The SEA Index® expanded its CO₂ certification to more recreational yachts and production catamarans (up to 35m), with Lloyd’s Register support and Seychelles included in the network. Crypto Industry Watch: BitMEX—Seychelles-registered HDR Global Trading’s exchange—will shut down on 23 September 2026, ending an 11-year run after regulatory and market pressures. Mobile Money IPO Plan: Airtel Africa picked the London Stock Exchange for its planned Airtel Money IPO in the second half of 2026. Tourism Demand Signals: Expedia’s 2026 island lists highlight Seychelles as a standout destination, reflecting continued high interest in island travel.